SCENTRE GROUP (SCG)
Share Price Analysis and Chart

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SCG

SCG - SCENTRE GROUP

FNArena Sector : REITs
Year End: December
GICS Industry Group : Real Estate
Debt/EBITDA: N/A
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Scentre Group was formed in 2014 through the merger of Westfield Retail Trust and Westfield Group's Australian and New Zealand management business. The company owns, manages and develops Westfield shopping centres in Australia and New Zealand.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.09

01 Sep
2025

0.010

OPEN

$4.10

0.25%

HIGH

$4.12

7,516,829

LOW

$4.08

TARGET
$4.042 -1.2% downside
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DGT . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . TGP . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
SCG: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 20.2 22.6 xxx
DPS (cps) xxx 17.2 17.7 xxx
EPS Growth xxx 100.0% 11.6% xxx
DPS Growth xxx 3.6% 3.1% xxx
PE Ratio xxx N/A 18.0 xxx
Dividend Yield xxx N/A 4.4% xxx
Div Pay Ratio(%) xxx 85.0% 78.5% xxx

Dividend yield today if purchased 3 years ago: 5.95%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.24

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 15/02 - ex-div 8.35c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx20.2
DPS All xxxxxxxxxxxxxxx17.2
Sales/Revenue xxxxxxxxxxxxxxx2,637.1 M
Book Value Per Share xxxxxxxxxxxxxxx346.6
Net Operating Cash Flow xxxxxxxxxxxxxxx1,039.0 M
Net Profit Margin xxxxxxxxxxxxxxx39.81 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx5.86 %
Return on Invested Capital xxxxxxxxxxxxxxx3.28 %
Return on Assets xxxxxxxxxxxxxxx2.92 %
Return on Equity xxxxxxxxxxxxxxx5.86 %
Return on Total Capital xxxxxxxxxxxxxxx5.00 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx179.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx2,447 M
Long Term Debt xxxxxxxxxxxxxxx14,328 M
Total Debt xxxxxxxxxxxxxxx16,774 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx381 M
Price To Book Value xxxxxxxxxxxxxxx0.99

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx17.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.64 %
Cost of Goods Sold xxxxxxxxxxxxxxx796 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx124 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx32,868 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.2

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Citi

27/08/2025

1

Buy

$4.60

12.47%

On further analysis, Citi raises the target on Scentre Group to $4.60 from $3.90 and lifts its earnings estimates slightly for 2025 & 2026, on operational momentum, improved occupancy, and lower finance costs.

The analyst believes there is potential for further value to be created via residential development on land adjacent to their centres in core locations, although this is at a very early stage.

Ongoing potential for subordinated buybacks is also on the cards, as well as asset joint ventures.

Buy rating retained.

****

It is Citi's early assessment Scentre Group's 1H25 FFOps of 11.28c outperformed its own estimate for 11.1c as well as consensus expecting 11.2c.

FY25 FFO guidance is reconfirmed at 22.75c representing 4.3% growth, broadly in line (though slightly below) Citi's 23c forecast and consensus at 22.9c.

Commentary highlights there is evidence of landlord negotiating power in the result with strong leasing spreads of 3%, CPI escalations of CPI+2% and high occupancy of 99.7%.

In addition, the shopping mall owner has dry powder from the recent Westfield Chermside sale.

Distribution guidance for 2025 has been upgraded for the full year to grow by 3.0% to 17.72c. New lease spreads were 3.0% during the period, the broker adds.

FORECAST
Citi forecasts a full year FY25 dividend of 17.70 cents and EPS of 23.00 cents.
Citi forecasts a full year FY26 dividend of 18.40 cents and EPS of 24.50 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

02/09/2025

2

Overweight

$4.45

8.80%

Scentre Group remains an attractive proposition, according to Jarden, with an expected three-year compound growth rate in funds from operations of around 6.4% and a good risk profile from a portfolio construction angle.

The outlook for the retail sector is positive, which is expected to transpose to good trading conditions for the group's retail tenants, as evidenced by occupancy up 10bps to 99.7%.

Management is recycling assets, including the sale of a 25% stake in Chermside for $683m on a yield of 5%.

No change to Overweight rating. Target rises to $4.45 from $4.25.

FORECAST
Jarden forecasts a full year FY25 dividend of 17.70 cents and EPS of 22.80 cents.
Jarden forecasts a full year FY26 dividend of 18.10 cents and EPS of 23.90 cents.
Access Extra Coverage Research History >

SCG STOCK CHART

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